The first regional conference on microfinance in member countries of South Asian Association for Regional Cooperation (SAARC) concluded on Thursday.

The conference ended with the vow to establish a virtual platform for knowledge management.

The platform has been conceptualised to facilitate exchange of ideas and experiences through regular interactions between experts, practitioners and people to achieve Millennium Development Goals.

The conference has also come up with a 10-point action plan for the growth of Microfinance institutions (MFI) in South Asian countries - Nepal, India, Bangladesh, Pakistan, Sri Lanka, Bhutan and Maldives.

It has also agreed for cooperation among MFIs, sensitising MFIs in risk management, reaching the poorest of the poor, advocacy for conducive environment, more investments in research and studies, among others - to expedite the micro finance in the region.

MFIs have proved instrumental in enhancing the lives of poor people in South Asian countries as they are effective tools to fight poverty.